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Tuesday, March 5, 2024

Ethereum (ETH): Budweiser boosts the crypto universe, price prediction and more

Do you know what beer and cryptocurrency have in common? Simply Budweiser. It has made the headlines in recent days, the famous American beer brand seems to be taking a big step in the world of cryptocurrencies: not only is it entering the world of NFTs, but it has even bought an Ethereum domain name. This is the announcement recently made by OpenSea when the firm bought the domain name Beer.eth for the modest sum of 30 Ethers, or about 90,000 dollars at the current price and invested in a work of art. digital art by artist Tom Sachs.

We will tell you all about this!

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Beer enters the world of NFTs 

For beer lovers, the news must not have gone unnoticed. Budweiser bought a non-fungible token (NFT) featuring a space rocket with its logo to use as an image on Twitter , and grabbed the beer.eth domain name. 

Tom Sachs, Rocket Factory NFT, Budweiser

The Anheuser-Busch affiliate caught the attention of the crypto community last Wednesday after downloading a Bud-themed rocket as part of artist Tom Sachs’ Rocket Factory NFT project .

According to records from the OpenSea site , the beer producer bought an NFT Budweiser rocket on August 24 for 8 Ether (ETH), or about $ 25,704. The company used the “ Life of the Party, ” image of three cans of beer making up the body of a rocket, for its official profile picture on Twitter . 

Tom Sachs, Rocket Factory NFT, Budweiser

She also tweeted three emojis depicting space rockets, often used by meme stock buyers and cryptocurrency fans to signify that an asset “goes to the moon”.

“ Budweiser takes its first steps in the NFT universe. We are delighted to support Tom Sachs and his Rocket Factory project and join this amazing community ”.

NFTs, those digital assets such as works of art, audio clips, virtual sports cards or even tweets, are linked to blockchain networks and have been booming since the start of the year. . Each NFT is therefore unique and almost impossible to modify or duplicate, making them popular with artists. Simply put, anyone online can see NFTs, but there is only one verified owner of the token on the blockchain.

The purchase by Budweiser and the ensuing profile photo change resulted in an increase in the value of fully assembled rockets from Tom Sachs: Rocket Factory NFT.

What is the Tom Sachs: Rocket Factory project? 

Tom Sachs, Rocket Factory NFT

The Rocket Factory project was launched at the beginning of August and allows anyone to buy parts of an NFT rocket, which they can then create in the real world if all the parts of an NFT rocket are assembled. The physical rockets are then assembled and launched, according to the project ‘s Medium page , the first flights were on August 28. 

Rocket Factory NFT has already released 3,000 branded components for buildable rockets.

“ The Rocket Factory, and all the NFTs it generates, are works of art. These works of art build on the foundation of sculpture and painting that Tom has been making for over thirty years. We are proud to announce the Genesis NFT collection from Tom Sachs ”.

The NFT collection is a partnership with Tom Sachs , a well-known contemporary sculptor and artist in New York City.

Tom sachs

Small physical reminder: an assembled rocket needs three components, a nose cone, a body and a tail. Each component was sold for 0.15 ETH plus gas.

The components represent popular brands like USPS, NASA, Skippy Peanut Butter, 7-Eleven, Trojan condoms, Sweet ‘N Low, Yoda and Brian from Family Guy and of course Budweiser.

There are 344 rockets for sale on OpenSea with a floor price of 14.8 ETH . The cheapest individual component is on sale at 4.25 ETH. A total of 45 “Frankenrockets” which feature three components with different logos are for sale with a floor price of 20 ETH.

The company recently shared a rarity chart, showing how many components of each brand were made during the NFT drop. There were 90 of each Budweiser rocket component, meaning 90 fully assembled Budweiser rockets could be assembled if someone bought the components.

Other brands like Coca-Cola and Apple were rarer, with only one copy of each component released, making possible a single hypothetical fully assembled rocket for each company.

Ten physical versions of the built rockets flew over New York City on Saturday, August 28. Other rockets will be launched on other dates.

Budweiser thus paid 8 pieces of ether for the rocket . The beer brewer is also known to have bought out the domain name beer.eth for 30 ether (worth $ 94,000 at the time of writing), under which the rocket and other NFTs are stored on platforms. cryptographic. 

After Visa and Arizona Iced Tea which paved the way

Budweiser is therefore the last major company to date to enter the NFT and crypto space , joining companies like Coca Cola and Marvel. in the creation and sale of these digital assets to consumers. 

Earlier in the week, Visa and Arizona Iced Tea paved the way for NFTs. 

Visa announced that it had paid $ 150,000 for a CryptoPunk Series NFT , while Arizona Iced Tea purchased a Bored Ape Yacht Club Series NFT in an attempt to use its digital monkey in marketing.

The change to Budweiser’s profile picture follows Visa’s decision to change its Twitter profile picture to its Visa News account, which has more than 118,000 followers, after purchasing a CryptoPunk. 

Two large companies like Visa and Budweiser that buy NFTs could bring greater institutionalization to the NFT market, whose enduring power has been questioned as some spoke of a bubble.

The popularity of NFTs has grown steadily throughout 2021 and the market shows no signs of slowing down. Nearly $ 1 billion has been spent on NFT across more than 300,000 sales in the past 30 days, according to data from nonfungible.com . We still remember the record sale of the artist Beeple who ignited the web and officially launched the NFT movement. In many sectors such as art or luxury , these non-fungible tokens are thus opening up a new path.

To end this article on an ironic note, in an article published a year ago by our friends at Cointelegraph, titled “If Cryptocurrency were Beer”, they were comparing Bud to Bitcoin for the following reasons:

  • Budweiser, an American lager, is an extremely well-known ale, available in establishments east to west and beyond. It ultimately remains the simple and reliable drink appreciated by many 
  • Bitcoin performs a similar function in the cryptocurrency world. As the first publicly available cryptocurrency, it’s not the most sophisticated and recent thing, but users know what they get when they use it: brand reliability and persistence. 

I hope that at the end of this article you will no longer see the Bud that you have in your hands in the same way (alcohol abuse is dangerous for your health) . Do not hesitate to read regularly the articles on Citytelegraph dedicated to the world of NFT , the revolution has only just begun!

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